Money Making Options
You Want To Live In The Philippines
But You Don’t Have Enough To Retire On!
This Is The Dilemma Faced By Many
Who Dream Of Living In Philippines.
So If You Are Not Super Rich And Able To Support
Yourself - Then What Are Your Options?
1. Stay where you are and perhaps hope that one day you will win the lottery. In the meantime you save every penny you can and keep visiting just for a couple of weeks a year.
2. Wait for that big retirement pay-out or pension, but ask yourself… ‘How old am I now? Can I wait that long? Will I enjoy myself as much then as I would now?’ In the meantime you will save every penny you can and keep visiting just for a couple of weeks a year.
3. Sell up everything you have and head over there hopeful that your money will last and something will turn up. Perhaps you are going to invest in the pig farm or shrimp farm of your Honeyko’s family. Then return totally broke and disillusioned 6 or 12 months later. And start all over again.
4. Research how you can make money while living in the Philippines then get a plan together and give it a try. Have a contingency plan to return home if it does not work out.
5. Try to forget about living in the Philippines and the Philippines itself. You may need a lobotomy to achieve this.
If you are addicted to the Philippines like we are than you can forget option 5.
Most people will live out Option 1 or 2. They are the safest and if a couple of weeks are enough for you then it’s your best option.
A few will take Option 3, which takes some cojones! It’s an attractive option to either a younger guy who has yet to put down roots or an older guy increasingly aware that it’s now or never.
Really, Option 4 is the same as Option 3 but done the smart way. You may still sell up most of your worldly possessions but you would not burn all your bridges. You will extensively research different ways of making money in the Philippines and based on your own skills and resources, put together a plan. You will also have a contingency plan in case things do not work out as you want.
So Realistically There Are Only Two Viable Options.
1. Stay At Home And Continue To Dream Of Living In The Philippines or,
2. Make It Happen.
If you really want to make it happen then Option 4 is the only way to go. Your very first step will be to purchase the Making A Living In The Philippines ebook, which takes you through the different ways you can make (and lose) money in the Philippines.
Buying this book will not be your only research. You will read everything else you can find including the information archived in the monthly Philippines Dreams newsletter that was published by Streetwise Philippines which you will also receive access to with your purchase. You will join the Philippines Dreams online forums where you can share and discuss ideas. You will also search the Internet and any other places where you can find information on making money in the Philippines.
(The following is a review of ‘Making A Living In The Philippines’ by long term Expat Christopher Bennetts. Chris currently lives in the Philippines and Thailand and makes his living completely off the local economies and internet)
‘Making A Living In The Philippines’ Examines
The Three Main Ways Of Making Money.
1. Finding Employment In The Philippines
Philippines already has a very high unemployment rate and the last thing they want is foreigners coming over and competing for jobs. The local wages are often such that many foreigners would find it a challenge to survive on them anyway. Despite this it is possible to find employment in the Philippines in a limited number of professions and the book will explain what these are and how to go about looking for the opportunities.
2. Investment In The Philippines
Anyone planning to invest their savings into a business opportunity in the Philippines should be extremely cautious. There are many opportunities but there are also many scams and risks for the novice. I would advise you to leave a substantial amount of your capital back home in secure investments and live off the interest from these if possible. If investing in the Philippines, start off small and keep your investments distributed. The book has much more on the subject of investment in the Philippines.
3. Starting A Business In The Philippines
Startup costs for a new business can be much lower in the Philippines enabling you to do things that may have seemed beyond your reach back home. As with any new business do your market research. A business model and service that works well at home may not be viable in the Philippines environment.
Be warned that while at first there does not seem to be any regulation or registration requirements this is not the case. Generally very small ventures are left alone but as soon as your business starts to be successful or has a high profile it will come to the attention of authorities at which time you will need to have all the required permits and accounting practices in place. Getting these can be more challenging than back home. It may be hard but there are plenty examples of foreigners opening and running successful business and many starting with very little capital. The books gives examples and ideas on how to identify business opportunities in the Philippines business landscape.